Dealing with 3rd party debt collection collectors can be scary, especially when you don’t know anything about your rights. Most of us have a lot of misinformation about debt collectors and what they can do and what they can’t do while collecting a debt. Here are the 5 things debt collectors can do when collecting a debt.
5 things debt collectors can do
1. Reviewing a payment plan after the agreed time has passed.
All unsecured debts such as medical bills and credit cards have a statute of limitations. After the decided date, the debt is expired and you can’t be sued for payment. But you still have that due debt and debt collectors can review the payment details and seek payment on these old financial obligations.
2. File a lawsuit against you to have you ordered to pay them.
Also, 3rd Party Debt Collection collectors can’t threaten you or mislead you but they can apply pressure to collect payment. As per the law, they can call you daily, frequent letters or talk about pursuing a lawsuit for payment on the debt.
3. Sue you for payment on a debt
Debt collectors can sue you for your due payment on a debt. These lawsuits often result in bank levies, wage garnishment or both, most debtors don’t show up to court and lose by default.
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